What is the Weighted Median?
The weighted median takes into account the importance (weight) of each value.
Unlike the simple median, the weighted median assigns different levels of significance to each data point.
It is used in statistics, economics, and image processing.
Weighted Median Formula
To calculate the weighted median:
Values are sorted and the cumulative weight is calculated.
Example
For [10,20,30] with weights [1,3,2]: Total=6, Median=20.
Applications
The weighted median is essential:
Survey Analysis
For demographically weighted surveys.
Image Processing
For noise reduction in images.
Financial Data
For volume-weighted transactions.